SINGAPORE: UOB-KayHian Holdings’ trading volumes in major regional markets where it operates remained low. It recorded a pre-tax profit of S$17.9m and after tax profit of S$15.2m, a decrease of 25%.
Commission income fell from S$58m to S$51.2m, reflecting a decrease of 11.8%. Interest income reduced 6.4% from S$21m to S$19.6m with lower financing activities.
Other operating revenue increased 11.7% from S$5.3m to S$5.9m with higher corporate finance activities.
Overall commission and personnel expenses fell due to lower business volume. Commission dropped 2.2% from S$12.4m to S$12.1m, a smaller decrease relative to reduction in income, due to conversion of employed dealers to remisiers.
